Question 1

Unlike other currencies,bitcoin is not controlled by a single government entity,such as the U.S.Treasury.

Accepted Answer

A) True 
 B)False

Question 2

As a result of the ________,Rick decided the candy priced at $2.50 per pound could not be nearly as good as the candy priced at $9.50 per pound.

Accepted Answer

A) assimilation effect 
B) contrast effect 
C) fair price effect 
D) reference effect 
E) clouding effect 
A) assimilation effect 
B) contrast effect 
C) fair price effect 
D) reference effect 
E) clouding effect

Question 3

Which of the following should be true for a skimming price to be successful?

Accepted Answer

A) Target consumers should be price sensitive. 
B) Supply should exceed demand. 
C) Demand must be stabilizing. 
D) The producer should use intensive distribution. 
E) There should be little chance that competitors can quickly enter the market. 
A) Target consumers should be price sensitive. 
B) Supply should exceed demand. 
C) Demand must be stabilizing. 
D) The producer should use intensive distribution. 
E) There should be little chance that competitors can quickly enter the market.

Question 4

To determine the break-even point,a firm needs to first do which of the following?

Accepted Answer

A) determine what percentage of the market it wants 
B) determine the point at which supply equals demand 
C) calculate the contribution per unit 
D) conduct an environmental audit 
E) determine total market share 
A) determine what percentage of the market it wants 
B) determine the point at which supply equals demand 
C) calculate the contribution per unit 
D) conduct an environmental audit 
E) determine total market share

Question 5

Consumer surveys are often important to marketers using demand-based pricing.

Accepted Answer

A) True 
 B)False

Question 6

The method of setting prices in which marketers total all the costs for the product and then add an amount to arrive at the selling price is called ________.

Accepted Answer

A) supply-based pricing 
B) target costing 
C) cost-plus pricing 
D) yield management pricing 
E) demand-based pricing 
A) supply-based pricing 
B) target costing 
C) cost-plus pricing 
D) yield management pricing 
E) demand-based pricing

Question 7

In some states,unfair trade practices acts are designed to ________.

Accepted Answer

A) regulate the markups used by various industries 
B) control the sale of agricultural products and raw materials 
C) regulate all forms of psychological pricing 
D) prohibit the selling of products below cost 
E) ban the use of price lining 
A) regulate the markups used by various industries 
B) control the sale of agricultural products and raw materials 
C) regulate all forms of psychological pricing 
D) prohibit the selling of products below cost 
E) ban the use of price lining

Question 8

Captive pricing is illegal.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is a measure of customers' sensitivity to changes in price?

Accepted Answer

A) liquidity ratio 
B) demand sensitivity 
C) price elasticity of demand 
D) marginal analysis 
E) basing-point 
A) liquidity ratio 
B) demand sensitivity 
C) price elasticity of demand 
D) marginal analysis 
E) basing-point

Question 10

Which of the following occurs when competitors making the same product jointly determine what price each will charge customers for the item?

Accepted Answer

A) horizontal price fixing 
B) vertical price fixing 
C) predatory pricing 
D) internal reference pricing 
E) assimilation pricing 
A) horizontal price fixing 
B) vertical price fixing 
C) predatory pricing 
D) internal reference pricing 
E) assimilation pricing

Question 11

What are the advantages and disadvantages of using demand-based pricing?

Accepted Answer

Demand-based pricing assures a firm that

Question 12

What is predatory pricing?

Accepted Answer

Predatory pricing is an illega

Question 13

Johnson Boats wants to introduce a new model of boat into mature markets in highly developed countries with the goal of quickly gaining mass-market share.As a consultant,you should recommend a ________ pricing strategy.

Accepted Answer

A) skim 
B) penetration 
C) price leadership 
D) cost-plus 
E) captive 
A) skim 
B) penetration 
C) price leadership 
D) cost-plus 
E) captive

Question 14

________ is a pricing tactic a firm uses for two products that work only when used together.The firm sells one item at a very low price and then makes its profit on the second high-margin item.

Accepted Answer

A) Two-part pricing 
B) Price bundling 
C) Captive pricing 
D) Penetration pricing 
E) Skim pricing 
A) Two-part pricing 
B) Price bundling 
C) Captive pricing 
D) Penetration pricing 
E) Skim pricing

Question 15

Variable costs for producing textbooks include the price of paper.

Accepted Answer

A) True 
 B)False

Question 16

Saturn car company started a trend with its value pricing strategy of giving customers one price and one price only.The Saturn website gave detailed price information without the need for or involvement of a salesperson.What pricing objective did Saturn use?

Accepted Answer

Saturn used the customer satisfaction pr

Question 17

Which of the following is an external influence that affects pricing decisions?

Accepted Answer

A) the salaries of production management 
B) competition 
C) the salaries of finance management 
D) overall pricing objectives 
E) the company's overall marketing strategy 
A) the salaries of production management 
B) competition 
C) the salaries of finance management 
D) overall pricing objectives 
E) the company's overall marketing strategy

Question 18

Pricing based on supply and demand is not a part of dynamic pricing.

Accepted Answer

A) True 
 B)False

Question 19

When setting prices,a leading manufacturer of nutritional supplements decided to institute a pricing strategy that would support a five percent increase in sales over the next three years.What type of pricing objective has the company set?

Accepted Answer

A) profit 
B) sales 
C) competitive effect 
D) cost-plus 
E) value 
A) profit 
B) sales 
C) competitive effect 
D) cost-plus 
E) value

Question 20

When demand is ________,increases in price result in increases in total revenues,while decreases in price result in decreases in total revenue.

Accepted Answer

A) elastic 
B) inelastic 
C) flexible 
D) supply-driven 
E) cross-elastic 
A) elastic 
B) inelastic 
C) flexible 
D) supply-driven 
E) cross-elastic

Unlike other currencies,bitcoin is not controlled by a single government entity,such as the U.S.Treasury.

As a result of the ________,Rick decided the candy priced at $2.50 per pound could not be nearly as good as the candy priced at $9.50 per pound.

Which of the following should be true for a skimming price to be successful?

To determine the break-even point,a firm needs to first do which of the following?

Consumer surveys are often important to marketers using demand-based pricing.

The method of setting prices in which marketers total all the costs for the product and then add an amount to arrive at the selling price is called ________.

In some states,unfair trade practices acts are designed to ________.

Captive pricing is illegal.

Which of the following is a measure of customers' sensitivity to changes in price?

Which of the following occurs when competitors making the same product jointly determine what price each will charge customers for the item?

What are the advantages and disadvantages of using demand-based pricing?

What is predatory pricing?

Johnson Boats wants to introduce a new model of boat into mature markets in highly developed countries with the goal of quickly gaining mass-market share.As a consultant,you should recommend a ________ pricing strategy.

________ is a pricing tactic a firm uses for two products that work only when used together.The firm sells one item at a very low price and then makes its profit on the second high-margin item.

Variable costs for producing textbooks include the price of paper.

Saturn car company started a trend with its value pricing strategy of giving customers one price and one price only.The Saturn website gave detailed price information without the need for or involvement of a salesperson.What pricing objective did Saturn use?

Which of the following is an external influence that affects pricing decisions?

Pricing based on supply and demand is not a part of dynamic pricing.

When setting prices,a leading manufacturer of nutritional supplements decided to institute a pricing strategy that would support a five percent increase in sales over the next three years.What type of pricing objective has the company set?

When demand is ________,increases in price result in increases in total revenues,while decreases in price result in decreases in total revenue.

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters

Exam 10: Price: What Is the Value Proposition Worth

Unlike other currencies,bitcoin is not controlled by a single government entity,such as the U.S.Treasury.

As a result of the ________,Rick decided the candy priced at $2.50 per pound could not be nearly as good as the candy priced at $9.50 per pound.

Which of the following should be true for a skimming price to be successful?

To determine the break-even point,a firm needs to first do which of the following?

Consumer surveys are often important to marketers using demand-based pricing.

The method of setting prices in which marketers total all the costs for the product and then add an amount to arrive at the selling price is called ________.

In some states,unfair trade practices acts are designed to ________.

Captive pricing is illegal.

Which of the following is a measure of customers' sensitivity to changes in price?

Which of the following occurs when competitors making the same product jointly determine what price each will charge customers for the item?

What are the advantages and disadvantages of using demand-based pricing?

What is predatory pricing?

Johnson Boats wants to introduce a new model of boat into mature markets in highly developed countries with the goal of quickly gaining mass-market share.As a consultant,you should recommend a ________ pricing strategy.

________ is a pricing tactic a firm uses for two products that work only when used together.The firm sells one item at a very low price and then makes its profit on the second high-margin item.

Variable costs for producing textbooks include the price of paper.

Saturn car company started a trend with its value pricing strategy of giving customers one price and one price only.The Saturn website gave detailed price information without the need for or involvement of a salesperson.What pricing objective did Saturn use?

Which of the following is an external influence that affects pricing decisions?

Pricing based on supply and demand is not a part of dynamic pricing.

When setting prices,a leading manufacturer of nutritional supplements decided to institute a pricing strategy that would support a five percent increase in sales over the next three years.What type of pricing objective has the company set?

When demand is ________,increases in price result in increases in total revenues,while decreases in price result in decreases in total revenue.

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Strategic Market Planning

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters